UPDATE: Deutsche Bank Raises Target on Compass Minerals to $80

Deutsche Bank reiterates its Hold rating on Compass Materials

and raises its price target to $80 from $75 a share on reduced, though persistent, headwinds. Deutsche Bank says, ""Salt volume and pricing environment challenging in '12. Hold 2011 proved to be a challenging year for Compass with weather related aberrations impacting both of Compass' businesses. In SOP, unusually wet weather in Q2 resulted in a poor solar evaporation harvest which limited volumes in Q4 and 2012. In Salt, tornado damage at Goderich led to $0.34 of losses in Q4, while mild winter weather reduced Q4 by an additional $0.35-$0.46. While external challenges are beginning to fall away, with salt pricing potentially difficult in '12 due to the mild '11-'12 winter, and valuation a fair 15.7x '12E EPS, Hold."" CMP closed at $76.31 a share yesterday.